Report : South and Central America Animal Genetics Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Products (Poultry, Porcine, Bovine, Canine, and Others), Genetic Material (Semen and Embryo), Service (DNA Typing, Genetic Trait Tests, Genetic Disease Tests, and Others)
According to a new market research study of ‘South and Central America Animal Genetics Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by product, genetic material, and service’ the South and Central America Animal genetics market is expected to reach US$ 488.51 million in 2027 from US$ 334.10 million in 2019. The market is estimated to grow with a CAGR of 5.0% from 2020-2027. The report provides trends prevailing in the South and Central America Animal genetics market and the factors driving market along with those that act as hindrances.
Based on the genetic material, the animal genetics market is segmented into embryo and semen. The porcine segment held the largest share of the market and is expected to dominate the market share with the highest CAGR during the forecast period. The embryo segment’s market growth is expected due to the advanced animal biotechnology techniques, such as animal cloning, transgenesis, sex determination, stem cells, designing new livestock, are performed on animal gametes including sperm, oocytes, and embryos based on embryology. Embryo biotechnology, has become advanced tool for animal scientists and breeders to improve genetic quality of animal herds or populations. Embryo transfer in cattle has gained popularity in dairy and beef producers. Thus, advancements in animal biotechnology techniques is likely to favor the market growth of the segment. Moreover, the semen segment’s growth is fueled due to the fact that in commercial farms semen testing is routinely performed to predict the male’s fertility. Thus, growing animal farm industry and animal breeding is likely to favor the growth of the segment.
The growth of this market is estimated to grow owing to key driving factors such as the high rise in the animal population and the growing consumption of animal derived protein products and a high growth in adoption of progressive genetic practices. However, the market is expected experiencing slow growth during the forecast period owing to the stringent government regulations for animal breeding.
NEOGEN Corporation, Genus, Topigs Norsvin, Zoetis Inc., Alta Genetics Inc., Groupe Grimaud are among the leading companies operating in the South and Central America Animal genetics market.
The report segments South and Central America Animal Genetics Market as Follows:
By Genetic Material
- DNA typing
- Genetic Trait Tests
- Genetic Disease Tests
- Rest of South and Central America
Contact Person: Sameer Joshi
Email Id: firstname.lastname@example.org